Mortgage

Meanwhile, though, the bigger factor that worries economists is the employment situation.

Several mortgage companies have offered to loosen up on late payments and credit bureau reporting for veterans affected by the Gulf Oil spill. The Veterans Administration this week urged everyone else to climb aboard

In a week in which it appeared that half of Wall Street had run off to the Hamptons, economic data showing the economy might or might not be as well off as it was 2-3 months ago caused some wild swings in mortgage pricing. Mortgage pricing is close to its all-time peak right now, meaning that investors who bought mortgage-backed securities when the average 30-year fixed rate was 4.75% have substantial unrealized gains now that the average 30-year fixed rate is 4.42%

On Tuesday, the FOMC announced it would use funds received from prepayments on its MBS holdings to purchase Treasury securities on the open market, effectively allowing it to return those funds into the financial system.

VA loans remain one of the safest and most powerful lending options on the market for military borrowers.

At more recent Fed meetings, the consensus has grown darker, and even the more hawkish members of the committee, those who had been most adamant about increasing interest rates to stave off inflation, have softened their stances. Market consensus currently suggests a belief that the FOMC will not raise the Fed funds rate until sometime in the 1st or 2nd quarter of 2011.

Bonds trade in tight range; 2nd quarter GDP on the way; Corporate profits eyed; 30-year fixed mortgage sets new 40 year record low; Housing numbers beat expectations; European banks checked – Recap of July 19-23 economic news and preview of July 26-30 events Bonds refused to break out of a tight range last week, ensuring homeowners

Bonds trade in tight range; 2nd quarter GDP on the way; Corporate profits eyed; 30-year fixed mortgage sets new 40 year record low; Housing numbers beat expectations; European banks checked – Recap of July 19-23 economic news and preview of July 26-30 events Bonds refused to break out of a tight range last week, ensuring homeowners

At the time the home is listed for sale, real estate agents should order an “FHA Assumption Package” from the company servicing the loan.

If I had to choose a word for investor sentiment in the current economy, I would choose “trepidation”. Investors want the stock markets to move higher, but too many factor are pushing against that possibility.

Happy Monday morning to all and it is another bright, sunny day here in South Florida.  Unfortunately, things are not so bright in the mortgage backed securities market and exactly where MBS prices, and thus mortgage rates, are going to go could get very interesting this week.  Remember that last week I